Shrikant Kakani
Why are property taxes so high and complicated in Columbus?
I'm looking to invest in one of the multi-family properties in Columbus and the purchase price is going to be $300K for 4 units. Currently, the owner is paying around $5,400 in property taxes as confirmed from https:/...
Samantha Klein
CPA NEEDED....
Hi, I am asking a question for my father, his only income is social security, he gets $975 a month. He sold a collector car he's had for more than a year last month and he's made a capital gain of 30k, he wants to kno...
Logan Allec
Non-Taxable Income for FHA Loans: Do 401(k) contributions count?
It is my understanding that in calculating effective income for an FHA loan, non-taxable income (like child support for instance) may be grossed up at the greater of 15% or the borrower's tax rate for the previous yea...
Joshua Myers
IRA Withdrawal and Cost Segregation Question
Alright, I have a question that I can't find information on anywhere. What better place than BiggerPockets to find an answer. So here goes!For 2022 my taxable income is going to be just under 240k which includes; 90k ...
Rob Hendricks
Do carrying costs increase cost basis?
I'm having trouble finding a definitive answer on this. Assuming I purchase a house with the intent to fix and flip in a 6 month window, do the carrying costs I pay increase my cost basis, such that my taxable profit ...
JD Martin
Tax implications for seller financing to my current tenant
Good afternoon all!
One of my tenants that I've had for several years is interested in purchasing the home that he's currently living in (he's rented two different homes from me). They've been good tenants but don't ...
Jon K.
What cost basis is used during a sale in this situation?
Let me preface this by saying I have already emailed the same question to my tax guy, but wanted to ask here as well. I am considering selling one of my rentals to the current tenants. This property used to be my prim...
Joseph R Fornwalt
Multi family rental property analysis
Hello everyone, I am new to BP and this is also my first post. I'm currently self educating and analyzing small multi family properties in Lakewood, OH. I also currently live there as a renter. My most likely path wil...
Gina Russoniello Tiwari
STR Newbies - Running the numbers & TAXES in particular
Hello wonderful BP community, Spouse and I are looking to get started in the STR business. We are new to RE investing in general (so far our only RE holding is a passive LP interest in a RE fund). We are trying to fol...
Bao Vu
Question regarding Tax on a Flip
Hello everyone, I have a question regarding taxes on a flip as I am prepping the books. My partners and I purchased a property late 2023 and finished the renovation and sold the property in March of 2024. After all ex...